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November 20, 2008 at 10:58 am · Filed under Contact Me, Did You Know?, Pensacola, Perdido Key
For months now I have heard the “buzz” about Twitter.com and its ability to micro blog whatever you are doing at any given time. I of course didn’t see the point. But, since it is free, I went ahead and signed up for an account about 9 months ago, and proceeded to do absolutely nothing with it.
Now, after getting asked repeatedly about twitter, and after getting my first confirmed real estate lead from there, I have had my light bulb moment. If someone is following me on twitter, they know that I am a mortgage banker. And, they will also get to see everytime I update something on my profile such as a new blog post, or today’s mortgage rates, or what the neighbor’s cat is doing in my yard.
The concept of Twitter is so simple, that I truly didn’t get why you would even bother, until recently. I am by no means a “twitter-holic”, but I an trying to more frequently update what is going on with me for those interested in me or mortgages or real estate or all of the above.
You can follow me on Twitter by clicking the Twitter icon on the right side of this screen.
For your daily mortgage rates, go to SteveRussellOnline.com, or call me at 850-221-8334.
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November 14, 2008 at 11:24 am · Filed under Affordable Housing, Gulf Coast Housing, Pensacola, Perdido Key Condo Deals, Residential, The Mortgage Market
This weeks financial news wrap up.
It is interesting the times that we live in right now. The 500 point intraday swings in the stock market have become so commonplace that no one even gets excited about it anymore. Even yesterday, there was an intraday low of -331 only to rally in the afternoon to +552, a nearly 900 point intraday swing. What is even more curious is a buying rally after incredibly bad economic reports.
All of this leads to the conclusion that the markets are trading almost entirely on emotion. Fundamentals appear to have no affect, and that uncertainty bleeds over to the bond market as well.
Mortgage bonds started the week on a downward slide, then recovered Wednesday and Thursday morning with a nice rally. That rally began losing steam yesterday afternoon and continues to show weakness this morning. Daily volatility aside, mortgage rates long term are better than they have been in about a month and continue to trade in a near sideways channel.
Conventional wisdom would lead us to believe that as poor economic data comes out, investors would pull money out of stocks, invest in bonds, driving up the yield and driving down mortgage rates. But, as previously discuss, conventional wisdom does not appear to have a place in this market.
All in all, if you have a mortgage loan in process that you have not yet locked, my bias would be towards locking to protect against uncertainty.
For today’s mortgage rates, or to apply for a mortgage loan, go to SteveRussellOnline.com. Or call 888-257-8383 for a free consultation.
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November 13, 2008 at 5:01 pm · Filed under Affordable Housing, Gulf Coast Housing, Pensacola, Residential, The Mortgage Market
Due to the outstanding rally in stocks this afternoon, bonds sold off to their worst levels of the day. So it is in fact a good time to lock your rate if you were floating to this point. When rates are posted tomorrow they will likely be .125% to .25% higher than quotes this morning. For more on the latest mortgage rates or to apply online, go to www.SteveRussellOnline.com.
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